The financial market is constantly evolving, and Artificial Intelligence (AI) is playing an increasingly significant role. As technologies advance, financial institutions seek ways to adapt and innovate to stay competitive. According to a recent global McKinsey survey, about one-third of large and medium-sized companies are already using AI in their routine operations. Furthermore, 40% of them will increase their investments in this innovation due to the exponential advances observed in Generative AI, mainly.
AI offers a range of solutions from analyzing large volumes of data to automating complex processes, increasing operational efficiency. With the ability to learn and improve continuously, AI systems are helping to transform the way financial services are offered and managed.
The application of AI in the financial market is not limited to task automation. It is also being used to improve the customer experience, predict market trends, identify fraud, and manage risks more effectively. Optimizations attract the attention of investors in the market – Gartner already predicts an increase in acquisitions of AI-based businesses, as well as the use of technology to improve processes, as indicated in merger and acquisition trends.
Specialist Thiago Oliveira, CEO and founder of Monest – an asset recovery company through debt collection via artificial intelligence – explains that today technology has been very well accepted by companies and has provided good results in applications. "This is bringing a range of new business opportunities and product creations to the market. Today, everything companies consider doing, they will think about how to use AI to improve the process and provide a better user experience," he emphasizes.
This is no different in the financial market. The sector is becoming more dynamic and responsive to changes, allowing companies to quickly adapt to new opportunities and challenges such as operational efficiency through internal process optimization, assertive decision-making, accessibility and convenience for customers, innovation and creation of new products, cybersecurity, and reduction of costs and fraud risk.
Among the AI trends identified for the financial market are:
- Robotic Process Automation (RPA)
RPA is being widely adopted to automate routine and repetitive tasks, such as transaction processing, compliance verification, and account management. This automation not only increases operational efficiency but also reduces costs and minimizes human errors, allowing employees to focus on more strategic activities.
- Big Data Analysis and Machine Learning
The analysis of large volumes of data using machine learning techniques is helping financial institutions gain deeper insights into customer behaviors, market trends, and potential risks. This allows for more informed decision-making and more precise investment strategies. Advanced predictive models are being used to forecast market movements, identify fraud patterns, and personalize product offers.
- Virtual Assistants and Chatbots
AI-based virtual assistants and chatbots are becoming an essential part of customer service in the financial sector. They can respond to customer inquiries in real time, provide personalized assistance, and perform simple transactions, improving the customer experience and reducing the workload of human agents.
- Risk Management and Fraud Detection
AI is being used to improve risk management systems and fraud detection. Machine learning algorithms can analyze large amounts of data in real time to identify suspicious activities and anomalies that might go unnoticed by traditional methods. This allows a faster and more effective response to security threats.
- Algorithmic Trading
Algorithmic trading, or automated trading, uses AI algorithms to execute trades in the financial market based on predefined parameters and real-time data analysis. These algorithms can react to market changes in fractions of a second, taking advantage of trading opportunities that would be impossible for human traders to detect and execute with the same speed.
For companies looking to start implementing AI in their processes, it is essential to adopt a strategic and well-planned approach, beginning with identifying suitable processes for automation, selecting secure tools, and developing robust AI models for predictive analysis and fraud detection.
Specialist Thiago Oliveira also explains that integrating these technologies with existing systems and continuously monitoring their performance will ensure not only operational efficiency but also more informed decision-making and an improved customer experience through automated and personalized interactions. It is certain that AI is shaping the future. It remains to be seen which companies will seize this wave of innovation opportunity. Those who do not adapt will surely fall behind in this technological race, he concludes.
